The numbers are in and they are strong, especially for Charlotte.
The recent release of the report from the S&P CoreLogic Case-Shiller index from this past week indicates a continued trend of rising home prices nationwide. Housing prices in Charlotte, specifically, are rising faster locally that they are across the country, as growth jumps with approximately 16,000 new residents in 2016 and a low inventory that doesn’t seem to be increasing.
Across the nation, home prices rose an average of 5.8% in March, which is a 33- month high, but in Charlotte, housing prices jumped an even greater 6.7%, as compared with only year ago. Among the 20 markets that Case-Shiller reports on, Charlotte is the ninth highest in year-over-year gains.
The average sales price of Charlotte homes in April was $275,491, which is a 10% increase from the average sales price in April 2016, according to the Charlotte Regional Realtor Association.
Low inventory and rising home prices seem to be a theme across market stats over the past year, as well as a slow climb in mortgage rates.
For more details on the housing market in Charlotte and the recent Case-Shiller report, as well as what it means for home buyers and sellers, be sure to check out the full article at CharlotteObserver.com.